Why is cargo business insurance important?

This item was filled under [ Insurance ]

If you’ve been watching international news coverage lately, you’d have seen that nations around the world are facing civil unrest, but not only that, cargo that is shipped over the ocean is subject to the whims of Neptune and his trident. Also, pirates have been a real issue in areas along Africa’s east coast.

What happens when you order a shipment of furniture from Spain and shipping it via cargo ship is much cheaper than paying the costs for air shipment, but you don’t feel the need for cargo insurance? Sure, you’ve saved a few pounds, but what happens when the cargo ship hits a sandbar and is delayed several weeks? Or what happens if pirates decide that the ship containing your shipment is the one they want to hijack?

You can’t plan ahead for these unfortunate circumstances, but you can protect yourself from financial backlash by purchasing cargo insurance every time you ship freight internationally.

If your company is participating in a freight exchange programme like www.logintrans.ie, ensure you have approved transport cover for your logistic vehicles.

 

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